Lithia & Driveway price target raised to $405 from $360 at Stephens

Stephens analyst Jeff Lick raised the firm’s price target on Lithia & Driveway to $405 from $360 and keeps an Overweight rating on the shares. The firm’s raised target is based on slightly raised estimates, pushing out one quarter and a slightly higher EV/EBITDA multiple following the company’s Q3 results and conference call, the analyst tells investors.